Predictably Irrational

Predictably Irrational - Book Review


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You know since kindergarten that we, as a species, are called “homo sapiens” until a friend mentions this bizarre book called “Thinking Fast and Slow”.

The guy, a psychologist, argues that we are not as rational as we want to believe. Hmmm… Hard to accept. But then you hear that the same guy, the writer, received a Nobel Prize.

Wait, what? Since when there is a Nobel Prize for psychology?

There isn’t. Daniel Kahneman received a Nobel Prize in 2002 for Economics. For his studies on behavioral economics to be precise.

To resume his studies in a few words: contrary to standard economics, who suggests that we are perfectly rational agents, part of a well-functioning economic system, behavioral economics challenges this view and argues that our perfectly rational economic decisions are clouded by psychological, cognitive, social, and emotional factors. In other words, they are pretty much irrational.

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